China's domestic hot-rolled coil prices rebounded on Tuesday March 2 amid recovering demand, sources told Fastmarkets.DomesticEastern China (Shanghai): 4,840-4,860 yuan ($749-752) per tonne, up 20 yuan per tonneA Shanghai-based trader said trading activity picked up on Tuesday, which helped push prices upward.He said the company he works for was receiving a steady stream of orders - close to its d...Read More
Base metals prices on the London Metal Exchange were mixed this morning, Tuesday March 2, while on the Shanghai Futures Exchange they were mainly weaker.Manufacturing, as indicated by recent purchasing managers index data, has provided mixed signals - growth is slowing in China, but still recovering well in Europe and the United StatesBase metals LME three-month base metals prices were mixed this...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed...Read More
China will actively promote the development of offshore wind power as part of its effort to build clean energy infrastructure across the country, according to a carbon neutrality action plan issued by State Grid Corporation of China on Monday March 1.In September, Chinese President Xi Jinping announced that China aims to reduce the country's carbon dioxide (CO2) emissions by more than 65% by 2030...Read More
Key data from Fastmarkets' pricing session in China on Friday February 26.Key drivers The spot cobalt metal price in China narrowed downward on February 26 after local futures prices softened and buyers were reluctant to accept higher offers, which caused sellers to...Read More
Chinese buyer interest in the overseas blister copper spot market shrank in February due to the increased availability of lower-cost substitute material - scrap and ingots - in the domestic market.Refining charges (RCs) for 98-99% blister copper, cif China, were assessed at $160-170 per tonne for February - rising due to the increasing availability of overseas blister copper compared with January...Read More
Chinese import prices for high-grade heavy scrap (HS) have continued to increase, with a transaction concluded for a 3,000-tonne HS cargo from South Korea this week, sources said on March 2.One bulk cargo was sold into China at $495 per tonne cfr and was purchased by a trader who has backing from a steel mill, sources said.Another transaction was heard at $490 per tonne cfr China for 3,000 tonnes...Read More
The first deals for the supply of aluminium ingot to main Japanese ports (MJP) for the second quarter have been concluded at a premium of $149 per tonne cif MJP, market sources told Fastmarkets on Tuesday March 2.The first deal - at a premium of $149 per tonne to the London Metal Exchange cash price - was concluded between a producer and a Japanese trader for 500-1,000 tonnes per month from April...Read More
Chinese buyers paid higher prices for nickel ore and nickel pig iron (NPI) last week amid tight supply and costlier freight. Prices for 1.5% nickel ore rose to new highs amid the uptrend.Fastmarkets assessed the price of laterite ore with 1.5% Ni content, cif China at $78-81 per tonne last Friday February 26, up by $12-13 (18.7%) per tonne from $66-68 per tonne a week earlier. This is the highest...Read More
Salesforce.com (CRM), a Dow Jones Industrial Average stock moved below $212.99 extending an intermediate downtrend. Pre-opening Comments for Wednesday March 3rdU.S. equity index futures were higher this morning. S&P 500 future added 9 points in pre-opening trade. Index futures moved slightly lower following release off the March ADP Private Employment Report at 8:15 AM EST. Consensus was...Read More
Here are five Fastmarkets stories you might have might have missed on Monday March 1 that are worth another look.Brazilian iron ore exports increased by 10.9% in February versus the corresponding month in 2020, with a significantly higher average price, according to data released by the country's economy ministry...Read More
The price of tin fell throughout the day on Monday March 1 to its lowest in two weeks at the close of trading on the London Metal Exchange, while the fortunes of the rest of the base-metals complex was mixed following strong losses on the previous Friday.Tin's three-month price was down to $23,460 per tonne on March 1, its lowest 5pm closing price since February 12.The metal was rallying until Fri...Read More
Fastmarkets plans to launch two new prices on a CIF China, Japan and Korea basis - nickel sulfate, cif China, Japan and Korea, $ per tonne, and nickel sulfate premium, cif China, Japan and Korea, $ per tonne.Fastmarkets Research estimates that the current demand for class 1 nickel units for use in electric vehicle (EV) batteries accounts for a minimal 3-4% market share, but this is forecast to inc...Read More
The latest data for the global manganese ore market for the week ended March 1, 2021.Read More
Seaborne manganese ore prices rose again in the week to Friday February 26, after some suppliers raised offer prices due to increasing freight costs, the stronger South African rand and expectations of lower South African exports in the coming weeks.Fastmarkets' manganese ore index 37% Mn, cif Tianjin rose by $0.12 week on week to $4.77 per dry metric tonne unit (dmtu) on Friday, up from $4.65 per...Read More
China's leading stainless steel producers, Taiyuan Iron & Steel (Tisco), Tsingshan Group and Baosteel, have all raised their high-carbon ferro-chrome tender prices for March delivery by 700 yuan ($108) per tonne from the prior month. The latest tenders issued by Tisco, Tsingshan and Baosteel are 8,700 yuan per tonne, 8,896 yuan per tonne and 8,900 yuan per tonne respectively, marking an increase o...Read More
Here are five Fastmarkets stories you might have might have missed on Monday March 1 that are worth another look.Brazilian iron ore exports increased by 10.9% in February versus the corresponding month in 2020, with a significantly higher average price, according to data released by the country's economy ministry...Read More
Several minor metals prices found substantial support in the week ended Friday February 26 from higher offers from China and limited stocks in Rotterdam. "Suppliers in China seem to be trying their luck at putting every price up," a European trader said. "There are not that many fundamental reasons for it, but I think they have taken note of general optimism in the commodity space and talks of a s...Read More
Turkish domestic scrap prices have gone up over the past week because of increasing imported scrap values, market sources said on Monday March 1.Prices for steel scrap imported into Turkey continued to rise after mills in the country booked a number of cargoes from Europe, the United States and the Baltic Sea region in the past week, supported by growing demand and rising prices for rebar and bill...Read More